I knives, I either stop at a 1,000 grit Shapton Glasstone or go all of the way to 0.3 micron lapping film.
Lately, I've been touching up my main chef knife with the fine side of a Spyderco Double-Stuff ceramic and it's good to go for a long time with both veggie cutting and stuff like tree-topping arm-hair and pushcutting paper. And my pocketknives have been seeing 15 micron and 5 micron lapping film wetted with Purell and then finished on leather loaded with 0.7 micron boron carbide. Kershaw's 13C26 loves that sort of treatment (my ET's bragging edge stays braggable after breaking down boxes) and Cold Steel's AUS-8A, well, did I tell you my ET is very sharp?
Outside of surgery, precision woodcarving, and fabricating fish, I don't know of any realistic reason to go beyond 400-1000 grit. I don't whittle as often as I should and don't craft sashimi, so my edges are overkilll because that's just what I like.